Core Viewpoint - Netflix is shifting its focus from subscriber count to advertising growth and revenue diversification, with live sports being a key strategy to enhance viewer engagement and revenue opportunities [1]. Group 1: Live Sports Strategy - Netflix has partnered with Major League Baseball (MLB) to include live sports in its offerings, planning to air three MLB events in 2026 and additional events through 2028 [2]. - The MLB Commissioner highlighted Netflix as an ideal partner due to its strong global reach, which aligns with the league's diverse international player base [3]. - Netflix aims to selectively acquire rights to high-profile events that attract significant viewership, rather than full-season rights, to maximize audience engagement [5]. Group 2: Viewership and Engagement - Netflix previously aired two NFL games on Christmas, achieving record viewership with an average of 24.3 million and 24.1 million viewers for those games, surpassing previous streaming records [6]. - Upcoming MLB events include the Opening Night game on March 25, 2026, the T-Mobile Home Run Derby on July 13, 2026, and the Field of Dreams Game on August 13, 2026, all expected to draw significant viewership [7]. - NFL viewership has increased by 6% year-over-year, with an average of 17.7 million viewers, indicating a strong market for live sports that Netflix can leverage for subscriber growth [9]. Group 3: Advertising Revenue Potential - Live sports are a critical component for Netflix to attract and retain subscribers, as they represent a lucrative advertising market due to the live nature of sports viewership [10].